Candidates for Fonterra Board of Directors’ Election Confirm

Candidates for the
Fonterra Directors’ Election were announced by the
Returning Officer, Warwick Lampp today following the
completion of the Candidate Assessment Panel (CAP)
process.

This year there are six candidates standing
for the Board of Directors. They are Gray Baldwin, Leonie
Guiney, David MacLeod, John Monaghan, Garry Reymer and Grant
Rowan.

As in previous years, the CAP process was
available to assess the capabilities, experience and
qualifications of Director candidates and provide Fonterra
shareholders with more information to help in making an
informed vote. While the CAP process is open to all
Director candidates, it is not compulsory. This year all
candidates went through CAP.

The Panel, consisting
of independent Chairman, Bill Falconer, two members
appointed by the Fonterra Board, John Spencer and John
Wilson, and two appointed by the Shareholders’ Council,
Ian Brown and Cathy Quinn, interviewed prospective
candidates. The results of the Panel’s assessment and
profiles of the candidates will be sent to Fonterra
shareholders with the voting papers on Friday, 17 October
and will also be displayed on Fencepost viawww.fonterra.com.

Directors’ Election Candidate
RoadshowFonterra shareholders have the
opportunity to meet Director candidates and ask questions at
the eleven Directors’ Election Candidate Roadshow meetings
which are scheduled to run fromTuesday, 28 October to
Tuesday, 4 November 2014. The dates and venues for the
Roadshow meetings are:

Shareholders’ Council
ElectionsElections for the Fonterra
Shareholders’ Council are required in four wards, as
follows:Ward
Candidate2 – Central Northland
Penny Smart
Alex Wright

7 – Piako
Andrew McGiven
Malcolm Piggott

14 – Eastern Bay of Plenty
Corrie Smit
Gerard van Beek
Wilson James

22 – Northern Manawatu
Katherine Gillespie
Ellen Bartlett

There was one nomination received in
each of the other 18 wards, so no election will be held in
these wards. The formal declaration of these candidates as
Shareholders’ Councillors will be made in conjunction with
the results of the elections at the Annual Meeting.

All successful candidates take office at
the close of the 2014 Fonterra Annual Meeting onWednesday,
12 November 2014.

Directors’ Remuneration
Committee and Fonterra Farmer Custodian Trust
ElectionsMr Lampp also confirmed that no
election would be required for the Directors’ Remuneration
Committee, as shareholders Murray Holdaway and Philip Wilson
have been elected unopposed.

Voting Period,
Voting Methods and Notification of Election
ResultsVoting Packs, containing candidate
profiles, will be mailed to eligible shareholders on Friday,
17 October 2014. Shareholders can vote by internet, fax or
post, using the Single Transferable Vote (STV) system.

The voting period is from Friday, 17 October until
10.30am on Monday, 10 November 2014 with the results being
announced later that day.

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